18 million undiluted mc - too cheap given the agl deal
the following is old news but could point the way to attracting more media attention and govt and investor support... very tightly held --> looks like its heading to 55 cents quick smart
won the Resource Stocks’ IPO of the Year Awards The Company was selected based on factors such as strong debut price, overall product, and strength of performance over the year. Torrens Energy listed on 30 March 2007, opening at 33.5c representing a 100% premium on the IPO price of 20c (including 1:2 attached option). Summary of 2007
Since listing, Torrens Energy has differentiated itself by way of its geothermal land portfolio and its proximity to the National Power Grid and power infrastructure, giving a distinct commercial advantage over other companies exploring far from existing infrastructure. The Company expanded and consolidated its land position in South Australia by acquiring key strategic holdings in Port Augusta and Port Adelaide.
In addition, just a few short months after listing, Torrens Energy was recognised by the Federal Government for its innovation and vision for the successful identification of Hot Rock resources close to markets. Under the Renewable Energy Development Initiative the Company was awarded $3m in matching funding to test its 3D-TFM heat mapping and modelling methodology. This was a great step forward for the Company, ensuring the comprehensive exploration of its South Australian tenements.
The Company continues to work efficiently and productively towards its first drilling programme, which commenced on time and under budget. Initial results have validated the Company’s exploration model and confirmed that there is indeed high heat flow and insulating cover within a short distance of the National Power Grid in South Australia. As we reflect on the successes of 2007, we are also optimistic about our future with a view to delivering further positive exploration results in early 2008 from the Torrens Project Area north of Port Augusta.
TEY Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
